On June 19, 2025, the Ministry of Finance (MoF) convened a rare meeting of the Consultative Committee for the Ministry of Finance.  I think it was the first meeting since the constitution of the 18th Lok Sabha in June 2024. The members are MPs of both Houses representing all parties nominated to the Committee.  It is a useful mechanism if the government intends to use it. The finance minister (FM) presides over the meeting.

The meeting on June 19 was formal — in fact, too formal and stiff. The chief economic adviser (CEA) made a 19-slide power point presentation (PPT), members were invited to make their comments and observations, the finance secretary summarized — literally encapsulated — the comments but offered no answers or clarifications, and the FM made her closing remarks. On no issue was there a consultation.

Fortunately, in the 19th slide of his PPT, the CEA requested suggestions from members on four issues:

For further improving farm productivity;

Agenda for deregulation to reduce compliance burdens esp. for industry;

Adapting our skilling programmes to AI and tech-driven disruptions; and

How to accelerate formalization of the economy.

I did not wish to make off-the-cuff suggestions at the meeting.  I have since thought about the four issues........

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